December 10, 2008
Auto Industry, Obama's Staff
No Comments
Last update: 11:47 a.m. EST Dec. 10, 2008
NEW
YORK (MarketWatch) — GMAC said Wednesday that it probably doesn’t have
enough capital to become a bank holding company, putting the lender in
an even more precarious position.
The auto loan and mortgage company, 51% owned by a group of investors
led by private-equity firm Cerberus Capital Management, has been trying
to persuade debt holders to exchange their investments for new equity
stakes in the business.
If successful, the swap
would boost GMAC’s capital enough for it to qualify as a bank holding
company under Federal Reserve rules. This would give the firm potential
access to government investments that other banks have received in
recent months.
However, GMAC said
Wednesday that investors holding less than a quarter of its outstanding
debt have so far signed up for the exchange offer. The company needs
roughly 75% participation for it to lift capital to the $30 billion
minimum required.
GMAC has
extended its offer to Friday at 5 p.m. Eastern time, but warned that if
it doesn’t get enough investors to agree, the company will withdraw its
application to become a bank.
That would “have a
near-term material adverse effect on GMAC’s business, results of
operations, and financial position,” the company said in a statement
Rest and source
December 9, 2008
Feeding Friends-z
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I just recorded a special video message — from a place you might
recognize — about this weekend’s Change is Coming house meetings, and
why you should join tens of thousands of your fellow supporters.
Watch the video and find a Change is Coming house meeting near you. Or
host one yourself and invite your friends, family, and neighbors:
http://my.barackobama.com/changeiscoming
At the house meetings, you’ll reflect on our campaign, discuss the
future of this movement, and identify some ways to get involved in your
community.
Meeting hosts will report back, and your feedback will be instrumental
in guiding this movement through some important and unprecedented
territory.
This grassroots organization has always been about more than an
election. It’s about transforming our country — and we’ve only just
begun.
With the enormous challenges we’re facing at home and abroad, we have
no choice but to continue working together. There’s so much more we can
do to help Barack bring change to America.
How we do that is up to you.
Watch the video and sign up to host or attend a house meeting this weekend:
http://my.barackobama.com/changeiscoming
I hope you’ll continue to make history with us.
Thanks and happy holidays,
David
David Plouffe
Campaign Manager
Obama for America
Please donate: https://donate.barackobama.com/calendar
December 7, 2008
Obama
No Comments
WASHINGTON (AP) — President-elect Barack Obama says the economy is going to get worse before it gets better.
There
are about six weeks before his inauguration and Obama says his top
priority is to have an economic recovery plan that is equal to the task
ahead.
Obama also wants to make sure the domestic auto industry
doesn’t disappear. But he says that if taxpayer money is at stake in a
rescue plan, there must be some guarantee of a viable industry that
emerges.
Congress and the Bush administration are working on
legislation to give the Big 3 automakers roughly $15 billion in loans.
Legislation could pass as early as this week.
Obama made the comments in an interview with NBC’s “Meet the Press.”
Source
December 5, 2008
Obama
No Comments
Dear MoveOn member,
On January 20, Barack Obama will be sworn in as our 44th president.
We’ve designed some cool shirts to commemorate this historic day. And if
we all wear them on Inauguration Day–to school, or work, or to the
inauguration itself–we’ll show that Obama’s got widespread support for
big progressive change.
We’ll send a shirt to anyone who contributes $12 or more to our big
campaign to pass Obama’s change agenda–and we’ll deliver it in time to
wear on Inauguration Day. Click here to get yours, then tell all your
friends:
http://pol.moveon.org/o-shirts/
Barack Obama has said many times that he can’t deliver universal health
care or a sweeping clean energy policy on his own. We all need to do our
part.
So we’ve launched a campaign called “Real Voices for Change” to make
Obama’s progressive mandate impossible to ignore. We’re organizing
grassroots events. We’re putting together a major ad campaign. And MoveOn
members are already out gathering messages of support from their
neighbors.
We’re going to make sure the voice of the people speaks louder than the
HMO lobbyists and oil companies.
But in order to hit the ground running the minute Obama becomes president,
we need resources now. And that means we all need to help out. Please chip
in $12 or more today, and we’ll send you an Obama shirt in time for
Inauguration Day. Click here:
http://pol.moveon.org/o-shirts/
Thanks for all you do.
–Peter, Patrick S., Marika, Karin and the rest of the team
P.S. To be clear, these shirts will NOT arrive before the holidays–but
they will get there in time to wear on Inauguration Day.
December 3, 2008
American Voices, History, Obama
No Comments
Dear MoveOn member,
Thanks for ordering a free “Victory” sticker. The response to these
stickers has been unlike anything we’ve seen before–more than 3 million
stickers ordered!
More than 1 million stickers have already shipped, and lots of folks have
already received theirs. We expect the rest to ship soon, and all of the
stickers should arrive by the time the holidays roll around.
In the meantime, if you have friends or family who would like a free
sticker, we’ll be offering them for only a few more days, so please tell
everyone to order now at http://pol.moveon.org/shepstickers/
Thanks for all you do.
–Nita, Michael, Laura, Daniel and the rest of the team
Want to support our work? We’re entirely funded by our 4.2 million
members–no corporate contributions, no big checks from CEOs. And our tiny
staff ensures that small contributions go a long way. Chip in here.
________________
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